You are viewing a single comment's thread from:

RE: Steemit Crypto Academy Contest / S18W2: Mastery of Moving Averages and Fibonacci Retracements.

in SteemitCryptoAcademy3 months ago

You have explained every section in a crystal clear manner. I felt connected to your write up .

Golden Cross trading strategy has to do with a faster moving average crossing a slower moving average while moving upward, in most cases this signifies a buy signal.

Ah, that's true! The Golden Cross is a well-known indicator for predicting upward trends. I think you explained it very well, especially how it signals a potential buy opportunity. It makes sense why many traders rely on this.

In simple terms Golden Cross trading strategy has to do with a faster moving average crossing a slower moving average while moving upward, in most cases this signifies a buy signal.

I agree, this is a clear and straightforward explanation of the Golden Cross. It's helpful for beginners to understand how this crossing indicates a bullish market. I think using simple terms really makes it easier to grasp.

Fibonacci retracement trading strategy is another awesome technical analysis tool that top traders all over the world use in conjunction with other indicators to predict the price movement of an asset at every given period.

Yes, I think you're right about the Fibonacci retracement being a valuable tool. It's amazing how traders globally use it to identify key levels. Combining it with other indicators definitely seems to enhance its effectiveness in predicting price movements.

Also, it may amaze you to know that each line of the Fibonacci retracement varies in strength that is to say some lines tend to be more difficult to break through than other lines, for example, the 0.618 is stronger than 0.382 which is stronger than 0.236 Fibonacci retracement line, etc.

Ah, that's interesting! I didn't realize the different Fibonacci levels had varying strengths. It's fascinating how the 0.618 level is particularly strong compared to others. This detail is really useful for understanding how to use the retracement lines effectively.

Good luck .

Coin Marketplace

STEEM 0.17
TRX 0.15
JST 0.028
BTC 61137.27
ETH 2383.64
USDT 1.00
SBD 2.52